With 1 In 3 Homes Unaffordable, Freddie Mac Prepares To Enter The Trailer Home Loan Market

I can’t say this is surprising. After all, with average peasants, I mean citizens, now priced out of the domestic housing market (Zillow recently showed 1 in 3 homes are unaffordable) due to billionaire financiers and foreign oligarchs buying up all real estate in cash purchases, American serfs now will find out where the “elites” think they belong. In trailer homes, naturally.

Oh, but the story gets better, a lot better. As is generally the case in the USSA these days, crony capitalist oligarchs have perfectly positioned themselves to benefit financially from the final transition of Americans to neo-feudalism. Recall that in my post from last October titled, Carlyle Group’s Latest Investment…Trailer Parks, it was noted that trailer park owners share the following attractive quality:

Our customers have no alternative shot at homeownership, nor do they [normally] even have the credit scores and quality to seek anything better…They never leave the park they are in, and the revenues are unbelievably stable as a result.

The unit of the government-owned mortgage giant that funds apartment buildings is set to begin financing manufactured-housing communities, the company said in a statement today.

The firm is broadening its reach in the multifamily segment of the housing market as it seeks to fulfill its mandate to provide affordable options for low-income families. The McLean, Virginia-based lender will work with established companies in the industry across the U.S., said David Brickman, the head of multifamily operations at Freddie Mac.

“It’s rounding out our ability to touch the affordable housing space,” Brickman said today in a telephone interview. “Manufactured housing is a big piece of rural affordable housing.”

Well, unless they plan on building out entirely new parks outside of city limits, the joke's on them. Nearly every park around here has been dozed down for McMansions or the ever popular student housing.

I'm not sure how this is news. Freddie has a HomeSteps program, already. I've bought at their foreclosed property auctions. Some of those double wides originally sold(1999-2000), financed for $120K. Sold at auction for $40-50K, 10 years ago.

Then tha top ones mine, Learnt early on from Cleatus that ya need a balcony to piss on ya lessa tribe members below. Trickle down effect don't work unless ya got height to flick ya ciggy stubs and refined used Moonshine below. Yee ha

This is the "Falling Water" of Gypsy architecture. The constructivist influence is well defined by the use of found objects and affordable structural scaffolding and stair elements sourced from construction companies that wen't out of business. 13 Bedrooms / 7 baths set on 1/3 acre with ample storage containers, all enclosing a play area, Koi pond and street lighted patio can be yours for $1.35M

And that's what it WILL cost in the not too distant future - at the same time a loaf of bread will run $15,000. And that'll be a GOOD price given the Zimbabwe like inflation awaiting us. Figure on it topping out at a few hundred trillion.

As someone familiar with rural settings I can assure you that this looks actually attractive compared to a lot of what's out there. Although, I've seen some pretty nice houses, with a "trailer" rammed right into them: the "nice house" being the "addition," of course.

I actually saw a single wide trailer with the house being built around it. They completely framed in a pretty nice sized 3 story house and then pulled the trailer out from what became a ground level garage. The guy owned a truck tractor repair shop on his acreage and built the house with cash as he went. He probably only had to make minor changes to the utilities and sewer.

Pretty smart ol country boy not to give money to banksters for 30 years and pay 3 times for the same house.

I found out recently the going rate for a trailer here is a staggering $1200/ month. Many people are going into parking them illegally on their property and renting. They move them in at midnight and cover them with camo. I know several people doing this and they are trying to entice me to as well. With ten acres I could have quite a haul. Something about having my own Pottersville in my backyard makes me reject the idea.

Mr and I started in a trailer at $150/ month. I kind of miss the simple life we had back then but our neighbors were students and retired people. Something tells me the type of people there would be different today.

If I was a Mormon I would live someplace like this. I would live in the big one at the bottom, which would have the kitchen. Each of my wives would live in one of the upper ones. I would name them Monday, Tuesday, Wednesday, Thursday, Friday and Saturday. I would rest on Sunday.

It looks like 'grees shootz' are happening, as evidenced by the ladder (unfinished house) shown against the back of the GREEN TRAILER. SEE, the 'ECONOMY' is GROWING!

(cut to Marlin Perkins)

'The jungle is filled with all kinds of wildlife, some of it waiting by your back door. In this episode of 'Wild Kingdom', we go in search of the fabled 'CHOOMSTER', and his mate, the 'CHIMPSTER'. As you can see, the stairway has been erected, and soon, the cameramen will climb it, looking in search for those who 'some' believe guides them from the trees. Stay tuned, as we explore 'THE WILD, KINGDOM!'

A key advantage to living in a mobile home is that you can run up six months arrears on your mortgage and then disappear in the night with the home. I might add that it is advantageous to own a fifth wheel F350 to make a quick getaway.

Buddy of mine in CRE said every one criticised Warren Buffet when he bought Clayton Homes. He said Warren got in the business for the potential in predatory lending. Charges people in excess of 20% interest to finance the sale of a Clayton Home.Sorry dude, but Soros, Buffett and Gates are predatory arseholes who get a rise out of sodomizing the middle class for their personal gain.

ZH is the only place you'll see cheap shots at Buffet while the Koch brothers are pilloried on every damn media outlet in the country 24x7.

Just astonishes me to see others responding to Flak. I am for sure not the smartest guy here, but even I recognize the futility of doing so. I'll bet that another scroll or two further, and this will turn into a thread about global warming.

You've clearly made a point. No one was able to provide any refuation, instead it resorted to name-calling and hauling in something else other than the subject matter to "prove" you're wrong...

I detest the lot of em all. And I find it hyopricritical of folks (or is it ignorance) to try and defend any of them... (but, if you inject something that is a bit inflamtory, matters not whether it's 100^% correct or not, people WILL react in a hostile manner- again, proven here)

It's just shocking; people reacting in a hostile manner on a board predicated on Fight Club and run by a guy named Tyler Durden. Shocking I say.

Perhaps you'd be better served on a nice Brony site or perhaps Disney. BTW, your condescending erudition is undermined by the fact your grammar is atrocious and you spell worse than an ADHD 2nd grader who just huffed a bag of glue.

His point is that if all discourse boils down to go variations of "Go fuck yourself shithead" it doesn't say for much intellectual grasp for the supposed grass roots supporters of Libertarianism does it now?

This is about the Kochs not getting the special love the deserve from ZH, after all, they are the ones turning literally trying to buy the goverment. You know, the real fascists....

And I have never seen anyone call out Sheldon Adelson, after all he only uses profits from his Macau casinos to all but directly bribe presidential candidates via super-PACS, and better yet, he is a real Zionist, not the fake type that get people in an uproar here...

Francis Sawyer used to call out Adelson all the time. And VD pulled the anti-semite card and got him banned. So it is pretty clear your comment is baiting to get someone to call out those-who-shall-not-be-named, so you can get all your opponents banned. For you cannot sustain an argument to save your life.

So, Adelson (a private citizen) being "investigated" by the Justice Department in the middle of an election in which he's contributing to a lawful effort to unseat the Justice Departments boss (namely, King Obama) does not raise a curious Flakmeister eyebrow eh?

Waxman using his perch within government to slander the Koch's (again, private citizens) and Reid using his senate website (my-our property) to attack them is not Goebbel-esque?

And then of course, there is the IRS vs the Tea Party.

When you have the all encompassing power of the CENTRAL GOVERNMENT and its "officials" attacking its own citizens, what exactly do you call that Flak?

Is that "democracy", a republic based on the rule of law or a tyranical state?

The most reasonable answer to that question has something likely to do with most people not even knowing what is on Fox News. None of the media outlets have followings that large. Most people I know do not even follow any format of the news, so they have no idea what's going on.

Additionally Fox is only one company why is it being held to such a high standard compared to the other outlets? 0 out of 5 is a lot worse than 0 out of 1.

I suppose you decry the statement that the so-called 'opposing sides' are a part of a LARGER planned takeover of the minds of the people, also known as THE FALSE DICHOTOMY.

It's WWF, but for REAL, here in the REAL world of those who are AWAKE and AWARE.

YOU, however, are a simpleton, and an OWNED one.

STFU, and GTFOOH, you twittery twat, until you accept the REALITY of what you are spewing from your mind-fucked keyboard.

Sorry. Sometimes, I get SO INCENSED by twits who proclaim to 'know shit' (which is actually what they KNOW); and try to lead conversations down a deluded conundrum of arguments that make NO SENSE WHATSOEVER to those who actually wish to LEARN something.

Actually it helps to know the rules and guidelines before concluding anything...

What Keystone enables is that refiners on the Gulf Coasts can replace some fraction of the sour heavy imports from Vza. and re-export the distillate in a sweet heart tax deal deal...

They can arbitrage the crack spread as dilbit/WCS from Canada which trades at a ~$30 discount to WTI whiile having similar refining assays, i.e. distillate yields. Those distillates are destined for export with the profits being tax free (NAFTA and US Free trade zones). For example. read the Valero 10-Q from a few years back...

Long term job creation is next to nil...

It very well may raise gasoline prices in the mid-west...

It will not lower the price of gas or diesel....

A few fatcats get even richer and if anything goes wrong, say a big spill in the Ogallala, the loss is socialized...

Its is basically a multi-billion dollar Fossil fuel industry subsidy through the tax code and it is bullshit....

Comparing Warren with the Kochs is hilarious...

Berkeshire might make PV $200 million through rail shipments, the Kochs will pocket billions....

I say fuck 'em all... If they want to make more money, figure out how to do it to generate real longterm jobs...

You're a fucking idiot. The MSM and libtardian politicians work the Kochs (apparently Libtards new replacement mantra for "Halliburton") like a pit bull on a small child. It's amazing to see you dumbshits concentrate on 2 fucking brothers while the rest of the whole of Wallstreet and the politico-banking industry just ass rapes the masses (though they beg for it...).

The worst thing, at least the Kochs are freedom lovers, people like Buffet are just dying to have us reduced to fucking barcodes and amniotic tanks.

Seriously I think it's bearish. These things are affordable now. You bring in the usual credit-fueled subsidization and prices skyrocket just like they did with conventional homes, college, equities, etc. Expanding credit into this market will make these homes unaffordable and then there's no place left for people to go.

Most of these end up in mobile home parks and not useless land. The useless land people are comparatively rich because they can fund improvments (well/water, septic/sewer, electrical) and as a result are fewer in number, and usually live that way because they want to. The MHP folks are like Carlyle group says -- unable to relocate and pretty much desperate. They're the ones that fork over $200/mo in rent for a spot that's less than 400 square feet. (On that note, do the math -- quadruple the space for access, you're looking at about 25 units +/- per acre. $5K per month gross per acre, and that's likely on the low side.)

Do the math again with a $10 rent increase and you know why these guys are jumping into the market: they can squeeze $10 more a month out of a $200 lease for someone who can't afford the thousands needed to relocate and they show a 5% return for doing absolutely nothing.

"You bring in the usual credit-fueled subsidization and prices skyrocket just like they did with conventional homes, college, equities, etc. Expanding credit into this market will make these homes unaffordable and then there's no place left for people to go."

Perfection! Thank you.

Apply the same model to health care, to anything really.

Next will be special depreciation rules and subsidies for bulldozers and ovens that seat 150 for when "there's no place left for people to go."

Absolutely true. I used to own a very, very modest 10x50 that was pretty old, no heat working. Had to use Karosine heaters in the winter and installed a wood buring stove. Miracle I didn't burn myself up. Did my best to fix the unit up with the little money I had but sold it for a thou just to get rid of it when I had to move. Yea, those were the days, the best of days.